Who do you believe?

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The "economist"?

"I should point out to you that the trusts have largely regained their market value over the past couple of years. But that will certainly not be the case when we have a Liberal government raising taxes, raising spending and driving our economy into deficit and recession," Stephen Harper, September 22, 2008


The portfolio manager?

Leslie Lundquist, a portfolio manager for Bissett Income Fund said the tax leakage argument never washed with her, because unitholders in income trusts pay income tax on those investments to the federal government. "I think you could argue that having a public market for income trusts, in fact, increases tax revenues at the end of the day, not decreases them."

Or the tax lawyer?

Tax lawyer Ross Freeman called the proposed change by the Liberals a "step forward. I was never one who believed that income trusts posed the threat to the federal treasury that they [Conservatives]were concerned about," said Freeman, with Borden Ladner and Gervais LLP’s Calgary office. "I think they were actually good for business and hence created more revenue for the government. I’m glad to hear that at least one party, the Liberals, think that was the case."

Related:
Perpetuating the Big Lie

Stephen Harper's proof - 18 blacked out pages